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Bargain Growth

By

Jack Hough SmartMoney

Updated May 18, 2006 12:01 a.m. ET

The distinction between growth-style and value-style investing may no longer be all that useful. Just look at mutual-fund companies. They often cleanly divide their offerings between growth and value portfolios, only to hold several of the same stocks in both.

Better to use a blended approach: Look for companies with healthy growth prospects and value-priced shares. The "PEG ratio" can help. It divides a company's...